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Proportion of UK homes for sale with prices slashed ‘highest in over a decade’
London asking prices fell by 1.5 per cent this month, bringing the average price of a home in the capital to £673,200, according to the latest data from Rightmove. The property portal also found it now takes an average of 63 days for someone to sell. Worryingly for anyone with their house on the market, price reductions are creeping up to a level not seen since January 2011. This month, a whopping 36.3 per cent of properties currently for sale have had a price reduction, with an average discount of £22,700 nationally or 6.2 per cent, suggesting buyers are in a strong position to negotiate. Rightmove said one reason ... (full story)
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